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Before you start to use this website please read these terms and conditions carefully and contact us (details below) if you have any questions. “part a” includes general commercial terms governing your use of this website. “part b” contains terms relevant to financial services regulatory matters. both parts include important information regarding your legal rights, remedies and obligations. these include various limitations and exclusions on our liability to you. your attention is particularly drawn to sections 5, 6 and 9 of “part a” which contain restrictions on our liability to you. if you choose to use this website to make online transactions, including through the “my account” function, your attention is particularly drawn to sections 8 and 11.

By using this website you will be indicating that you accept and will comply with these terms and that you have read our privacy and cookies policy which is incorporated into these terms.

Part A

Company information

This website (“Website”) is operated by M&G Securities Limited and M&G Financial Services Limited (“M&G”/ “we”/”us”/”our”). The various M&G financial products detailed on, or available through, this Website are managed by M&G or the other companies in the M&G Limited group and there is further reference to this in Part B below.

M&G Securities Limited, authorised and regulated by the Financial Conduct Authority(“FCA”), is the Authorised Corporate Director of M&G Funds and as are listed in the prospectus. Registered Office: Laurence Pountney Hill, London, EC4R 0HH. Registered in England No. 90776 and on the FCA’s Financial Services Register no. 122057 (www.fsa.gov.uk/register/).

The M&G ISA is managed by M&G Financial Services Limited which is authorised and regulated by the FCA. Registered Office: Laurence Pountney Hill, London EC4R 0HH. Registered in England No. 923891 and on the FCA’s Financial Services Register no. 122058 (www.fsa.gov.uk/register/).

Scope of these Terms & Conditions (“Terms”)

These Terms, as amended by us from time to time, set out the basis on which you may use this Website and provide information about the way we provide the various M&G financial products and related services detailed on, or available through, this Website.

The content of this Website is intended for retail investors only unless specifically indicated otherwise.

This Website contains some information and services that is/are freely available and accessible to all United Kingdom based users. It is also possible for registered users to buy certain M&G financial products such as ISAs through this Website. Specific terms & conditions may apply in relation to that. Such additional terms & conditions will be detailed during the relevant purchase process. In particular, the “My Account” function is only available to users who register for that service.

These Terms are effective from December 2014. We may change them from time to time by updating this page so please revisit and reread it periodically.

If the changes affect your purchase of M&G financial products such as ISAs they will be specifically brought to your attention. We may change the content or availability of any of the information or services available through this Website (including changing these Terms) or add additional services. Any such change will not affect the specific terms & conditions apply to any financial product you have bought through this Website unless those specific terms & conditions provide otherwise.

Online sales to retail investors

You must not purchase M&G financial products such as ISAs through this Website if you are under 18.

Accessing this Website and our services

You are responsible for making all arrangements necessary for you to have access to this Website and for all telephone, internet service provider and other costs incurred in accessing and using this Website. You are also responsible for ensuring that all persons who access this Website through your internet connection are aware of these Terms (including our Privacy and Cookies Policy) and that they comply with and accept them, as relevant.

Unless otherwise indicated, you are only permitted to use this Website for your own personal, non-commercial purposes, and you may not in any way resell any of these services or make these services available to any third party.

You must not establish a link to any pages of this Website from another website or document without our prior written consent. See “Contact Us” below.

You agree that you will provide us with full and accurate details whenever you submit personal information through this Website, including if you register for the “My Account” function, and that you will promptly notify us in writing if those details change at any time. See “Contact Us” below. We may stop the provision of any services to you through this Website, including through the “My Account” function, if we discover or have reason to suspect that the information or details you have given to us is/are false, misleading, inaccurate or incomplete. In addition, see “Termination and Cancellation of Registration” below.

Whilst M&G uses every reasonable effort to maintain the availability of this Website, we cannot guarantee its availability or the continuation of the services offered through it or that access will be uninterrupted or error free. From time to time, we may restrict access to some parts of this Website, or this entire Website, to users irrespective of whether they are registered users, as relevant.

Disclaimer: Reliance on information posted and security

Whilst M&G uses every reasonable effort to ensure that the accuracy of the information contained on this Website which was prepared by or on behalf of M&G (as distinct from third party content – see “Disclaimer: Links, third party information and websites” below) as at the date of publication, all such information is provided “as is” and this means that except where prohibited by law no warranties are given, whether express or implied, as to the reliability, accuracy, suitability or completeness of the information.

No company in the M&G Limited group, which includes M&G, accepts any liability for any use, or misuse, of the information presented on this Website or for any loss or damage which may arise from access to or reliance on information published on this Website, except where that liability may not be excluded or limited by law. Accordingly, to the maximum extent permitted by law, we provide you with this Website on the basis that we exclude all representations, warranties, conditions and other terms which are not expressly set out in these Terms (including our Privacy and Cookies Policy) This does not affect any mandatory legal rights that cannot be excluded under applicable law, including your statutory rights as a consumer. Nothing in these Terms shall limit or exclude our liability (if any) for:

(a) fraud or fraudulent misrepresentation;

(b) personal injury or death resulting from our negligence;

(c) our breach of our statutory obligation to provide the website and related services with reasonable skill and care; or

(d) any other matter for which it would be illegal for us to exclude, or attempt to exclude, liability.

We take all reasonable precautions to seek to keep secure all confidential information you send to us, including precautions against unauthorised access or loss. Our “Security Statement” on this Website contains more details about our website security measures. However, in common with all website operators, we cannot guarantee the security of any data transmitted by Internet email or through this Website. Please do not communicate with us by these methods unless you accept the security implications of dealing online. We strongly recommend that you do not send us any confidential information or commercially sensitive information or sensitive personal data (e.g. data bout health or medical conditions, actual or suspected crimes) by email or through this Website. Communications sent by you via Internet email, or through this Website, are sent at your own risk.

Disclaimer: Links, third party information and websites

This Website may contain, or be linked to, advice or statements from third parties. No company in the M&G Limited group, which includes M&G, makes any representation as to the accuracy, completeness, timeliness or suitability of such information and we have not, and will not, review or update such information. Any use made of such information is at your own risk.

Some of the information contained on this Website may also have been prepared or provided by third parties and may not have been verified by us. Except where prohibited by law (see above), no warranties are given, whether express or implied, as to the reliability, accuracy, suitability or completeness of the information. No company in the M&G Limited group, which includes M&G, accepts any liability for any use, or misuse, of the information published on this Website, except where that liability may not be excluded or limited by law (see above).

The links we provide from this Website to other websites are provided for information only. Other sites may link to this Website. We do not assume any responsibility or liability with respect to any website accessed via this Website or linking to this Website or for any of the content on those websites. Those websites will have their own terms and privacy policies and you should read them carefully before using those sites.

The presence of any advert on this Website is not an endorsement of the goods, services, business or website advertised.

Copyright and trademarks

Except where indicated otherwise, the copyright subsisting in the content on this Website and in the materials made available through this Website, including in all information, text, images and layout is the exclusive property of M&G or another company in the M&G Limited group. You are only permitted to print, copy, download or temporarily store extracts of the same as strictly necessary and for your personal use, provided that you do not change or remove any copyright notices. You are not permitted to copy or distribute otherwise make available or communicate to the public any part of the same. All copyright and other intellectual property rights shall continue to be held by M&G or the other companies in the M&G Limited group, as relevant, and no rights of any kind in it shall pass to you.

Copyright in certain content and materials is owned by third parties and is reproduced on or made available through this Website with the permission of the third party copyright owners. The restrictions above apply equally to all such third party content and materials.

The trademarks and logos shown on this Website are either owned by M&G, other companies in the M&G Limited group, or a third party. No rights are granted to use any trade marks on this Website without the prior written consent of M&G.

Online purchases including e.g. through “My Account”: Your security and responsibilities other responsibilities

If you choose to register to use this Website to undertake transactions, including to purchase our investment products such as ISAs, e.g. through the “My Account” function, then you will be agreeing to comply with the following security procedures which we are bringing your attention to now before you register for those purposes:

You are required to keep your Personal Identification Number (PIN) secure and secret at all times.

Never write your PIN down or store it on any software, including a password save feature.

Never disclose your PIN to anybody else, including any person at M&G. It is your PIN and should be reserved for your use only. We will never ask you to disclose this information.

Destroy any notice from us concerning your PIN as soon as you have read and understood it.

If you know, or suspect, someone else knows your PIN contact us immediately, even if they have not used it. See “Contact Us” below.

Do not leave your PC once logged on to e.g. “My Account”, or let anyone else use the PC until you have logged off.

Use particular caution when logging on to e.g. “My Account” from a public or shared computer to ensure that others are not able to view or record your PIN or any of your other personal information.

Tell us immediately of any unauthorised access or transaction that you know about or suspect. For contact details see “Contact Us” below.

You acknowledge and agree that M&G may terminate your online registration if you fail to comply with these security procedures or any other part of these Terms.

By making online purchases, including e.g. by using the “My Account” function, you will also be acknowledging and agreeing that you will be held responsible by M&G and other companies in the M&G Limited group for any instructions given to it or them while you are logged into “My Account” and that they will be entitled to treat such instructions as genuine, and act upon them, unless we have received from you prior notification of unauthorised use or disclosure of your PIN.

Where you use the site to transact and it has been previously stated that a discount is available on the purchase of an investment, any such discount is only available to investors without a financial adviser. Where a financial adviser is present on an account, whether or not the financial adviser’s details are listed on the purchase, no discount can be applied.

Information you submit through this Website

You agree that you will not:

Place on or submit through this Website any information or material which is abusive, illegal, threatening, defamatory, obscene, pornographic, discriminatory or otherwise offensive or which constitutes or encourages conduct that would be considered a criminal offence, give rise to civil liability, or is otherwise contrary to the law or would infringe the rights of M&G or any other companies in the M&G Limited group, or those of any third party;

Place on or submit through this Website any viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful; or

Interfere with the operation or content of this Website.

Any attempt to damage this Website may be illegal and we reserve the right to seek damages form you in relation to that and in accordance with applicable law.

No company in the M&G Limited group, which includes M&G, accepts any liability for any loss or damage caused by any viruses or other technologically harmful material that may infect your PC or other device, computer programs, data or other proprietary material due to your use of this Website or to your downloading of any material posted on it, or on any website linked to it, except where that liability may not be excluded or limited by law (see above).

Receipt and sending of communications

Communications which we send to you by email or through the “Contact Us” page on this Website will be deemed received by you immediately upon sending. We will not be obliged to seek any acknowledgement of receipt from you in respect of such emails. No company in the M&G Limited group, which includes M&G, accepts any liability for any delay or failure of delivery (for whatever reason) of any such email except where that liability may not be excluded or limited by law (see above). If we have addressed such communications to your email address, then we will not have breached any duty of confidentiality owed to you, even if they are seen by any other person as a result.

Communications sent by you to us by email or through the “Contact Us” page on this Website will be deemed received by us upon actual receipt by a system under our control.

Termination and cancellation of registration

If you have registered with us, we may cancel your registration at any time for any reason and upon not less than one month's notice. This will not affect the purchase of any financial products through this Website if we have already received your instruction.

If you have registered with us, we may cancel your registration at any time for any reason and upon not less than one month's notice. This will not affect the purchase of any financial products through this Website if we have already received your instruction.

We discover or have reason to suspect that the information or details you have given to us is/are false, misleading, inaccurate or incomplete;

We are provided with evidence of your death, or you become bankrupt or are having bankruptcy proceedings brought against you;

You are in material breach of these Terms;

You are using the services available through this Website outside of the UK, or for an illegal purpose, or your use would in our opinion jeopardise the security of this Website or any of these services, or would cause us to be in breach of the contractual duty we owe or would be contrary, or would be in risk of being contrary, in our opinion, to any regulatory rule of the Financial Conduct Authority.

Upon cancellation of your registration, your right to access and use the services that are only available to registered users of this Website will automatically terminate.

Jurisdiction and applicable law

Use of this Website and the content and materials available on or through this Website, together with these Terms, are governed by and interpreted in accordance with English law and you agree to submit to the exclusive jurisdiction of the English courts.

Assignment of rights and sub-contracting

We may, at any time, assign any or all of our rights or obligations under these Terms to any person. This includes but is not limited to any person which takes on responsibility for operating this Website or provides the M&G investment products and related services. This includes assignments where necessary as part of any restructuring relating to M&G and its business or assets, or as part of a sale of M&G or, as relevant, another company in the M&G Limited group, or its/their assets.

Any rights granted to you and obligations incurred by you under these are personal to you and may not be transferred to any third party. We may, at any time, sub-contract the performance of all or any of our obligations under these Terms.

Waiver

If we do not exercise any right or remedy which we have under these Terms this does not mean we have waived our right to it or any other right or remedy of ours.

Severance

If any part of these Terms is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above, the other provisions will remain in force.

If any invalid, unenforceable or illegal provision would be valid, enforceable or legal if some part of it were deleted, the provision shall apply with whatever modification is necessary to give effect to the actual intent of the parties.

Relationship

You agree that no joint venture, partnership, employment, or agency relationship exists between you and us as a result of these Terms or your use of this Website.

Entire agreement

These Terms (including our Privacy and Cookies Policy) contain the entire agreement between you and us regarding their subject matter and they supersede all prior communications, representations, warranties, stipulations, undertakings and agreement between the parties. Nothing in these Terms shall, however, operate to limit or exclude the liability of either party for any fraudulent misrepresentation.

Under the Data Protection Act 1998, you may request details of personal information that we hold about you. A small fee will be payable. This will not exceed £10. If you would like a copy of the information held on you, please contact us.

Tax information

The value to you of tax benefits will depend on your own circumstances, and tax rules may change in the future.

Fund information

Any prices and other information on this Website are solely to enable you to make your own investment decisions and do not constitute personal recommendations or advice.

We sometimes use data from third party suppliers. These organisations may interpret data differently to M&G. This occasionally leads to inconsistencies between third party and M&G data. Please be aware of this when comparing information on these pages.

Past performance is not a guide to future performance. The value of your investment will depend on the performance of each fund and will vary from day to day. You may not get back the amount of your original investment.

Details of the latest estimated yields and prices for all M&G Funds can be found in the Prices section of this Website or can be obtained by calling M&G Customer Relations on 0800 390 390. Prices for a selected range of funds also appear daily in the Financial Times.

Copies of each Prospectus, which provide a fuller statement of the investment and borrowing powers of the M&G Funds and the Annual and Interim Report and Accounts, are available free of charge on request to M&G Customer Relations or can be downloaded from this Website.

Part B

Regulatory information

We, i.e. M&G Securities Limited and M&G Financial Services Limited only promote the packaged products and services of M&G Securities Limited and M&G Financial Services Limited, including mutual funds operated or managed by M&G companies (the “M&G Funds”). We also manage the M&G ISA. We do not give advice or make personal recommendations to investors. Our services are paid for by fund managers and other persons to whom we introduce business. We do not charge investors for our services.

If you need more information about M&G, please contact us. Alternatively, if you wish to obtain personal advice as to whether this investment is suitable for your needs you should consult a financial adviser. If you would like a list of financial advisers in your area please visit www.unbiased.co.uk.

Our registered office is at Laurence Pountney Hill, London EC4R 0HH. You can also contact us at info@mandg.co.uk. Our VAT number is GB 235323781.

We are authorised and regulated by the Financial Conduct Authority, which can be contacted at 25 The North Colonnade, Canary Wharf, London E14 5HS. Investors who use our services are protected by the Financial Services Compensation Scheme for any amounts that we are unable to pay up to a maximum of £50,000 for each investor and subject to the rules of the scheme.

We recognise that we have an obligation to you to identify and manage the conflicts of interest that may arise within our business. It is a matter of trust and we consider it important for you to know that we will use all reasonable endeavours to ensure we identify these conflicts, look to resolve them and to treat you fairly. Further details of our Conflicts of Interest policy are available on request.

The information on this Website is directed at persons in the United Kingdom and is not to be regarded as an offer to buy or sell, or the solicitation of an offer to buy or sell, securities or investments in any jurisdiction other than the United Kingdom. The availability of each M&G Fund in any jurisdiction other than the United Kingdom is subject to restrictions set out in the prospectus for that fund. Except as set out in the relevant prospectus, the M&G Funds and shares in those funds have not been registered or approved for distribution under the laws of any jurisdiction other than the United Kingdom. Copies of the prospectus and recent annual and interim accounts for each M&G Fund can be obtained here.

Specifically this Website is not intended for use by any person in the United States. Shares in M&G Funds have not been and will not be registered under the United States Securities Act of 1933, as amended, or registered or qualified under the securities laws of any state of the United States and may not be offered, sold, transferred or delivered, directly or indirectly, to any investors within the United States or to, or for the account of, US Persons except in certain limited circumstances pursuant to a transaction exempt from such registration or qualification requirements. None of the shares have been approved or disapproved by the US Securities and Exchange Commission, any state securities commission in the United States or any other US regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the shares or the accuracy or adequacy of the prospectus. The Funds will not be registered under the United States Investment Company Act of 1940, as amended.